Westfield Capital Management Co. LP Buys 474,167 Shares of GeneDx Holdings Corp. $WGS

Westfield Capital Management Co. LP grew its stake in shares of GeneDx Holdings Corp. (NASDAQ:WGS) by 87.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,018,261 shares of the company’s stock after purchasing an additional 474,167 shares during the quarter. Westfield Capital Management Co. LP’s holdings in GeneDx were worth $132,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc increased its position in GeneDx by 10.7% in the fourth quarter. TD Asset Management Inc now owns 37,016 shares of the company’s stock worth $4,814,000 after purchasing an additional 3,584 shares during the last quarter. Bank of New York Mellon Corp increased its position in GeneDx by 39.8% in the fourth quarter. Bank of New York Mellon Corp now owns 227,586 shares of the company’s stock worth $29,600,000 after purchasing an additional 64,837 shares during the last quarter. Goldman Sachs Group Inc. increased its position in GeneDx by 4.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,220,502 shares of the company’s stock worth $158,738,000 after purchasing an additional 52,322 shares during the last quarter. One Capital Management LLC bought a new stake in GeneDx in the fourth quarter worth $1,568,000. Finally, Main Management ETF Advisors LLC increased its position in GeneDx by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 15,660 shares of the company’s stock worth $2,037,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 61.72% of the company’s stock.

Insider Activity

In related news, Director Casdin Capital, Llc bought 140,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $43.81 per share, with a total value of $6,133,400.00. Following the completion of the purchase, the director owned 3,507,164 shares of the company’s stock, valued at $153,648,854.84. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister bought 46,273 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $38.91 per share, with a total value of $1,800,482.43. Following the completion of the purchase, the director directly owned 4,784,570 shares of the company’s stock, valued at approximately $186,167,618.70. This trade represents a 0.98% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 2,056,420 shares of company stock valued at $82,035,340 and sold 72,382 shares valued at $4,889,473. Insiders own 29.60% of the company’s stock.

Wall Street Analyst Weigh In

WGS has been the topic of several research reports. Canaccord Genuity Group set a $75.00 price target on shares of GeneDx and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Craig Hallum restated a “buy” rating and issued a $85.00 price target on shares of GeneDx in a research report on Tuesday, May 5th. Guggenheim reduced their price target on shares of GeneDx from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. BTIG Research reduced their price target on shares of GeneDx from $170.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $75.00 price target (down from $155.00) on shares of GeneDx in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.43.

GeneDx Stock Up 6.1%

Shares of WGS opened at $56.27 on Friday. The firm has a market capitalization of $1.67 billion, a P/E ratio of -21.00 and a beta of 1.96. GeneDx Holdings Corp. has a 12-month low of $32.21 and a 12-month high of $170.87. The company has a current ratio of 3.09, a quick ratio of 2.95 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $55.74 and a 200-day moving average price of $93.19.

GeneDx (NASDAQ:WGS) last issued its earnings results on Monday, May 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $102.25 million for the quarter, compared to analysts’ expectations of $112.46 million. GeneDx had a negative net margin of 17.58% and a positive return on equity of 9.15%. During the same period in the prior year, the firm posted ($0.23) earnings per share. Equities research analysts expect that GeneDx Holdings Corp. will post -1 earnings per share for the current year.

GeneDx Company Profile

GeneDx is a clinical diagnostics company specializing in comprehensive genetic and genomic testing for rare and inherited disorders. The company offers a broad portfolio of assays, including targeted gene panels, whole exome sequencing, whole genome sequencing and chromosomal microarray analysis. GeneDx’s laboratory services support the diagnosis of a wide range of conditions—from rare pediatric diseases and hereditary cancer syndromes to neuromuscular and metabolic disorders—by providing clinicians with detailed variant interpretation and reporting.

Founded in 2000 and based in Gaithersburg, Maryland, GeneDx was established with the aim of accelerating the translation of genomic discoveries into clinical care.